Damac Properties Issues Tenders for Eight Projects

Damac properties are a globally renowned freehold real estate company in Dubai. It has been established in 1982 and today, is the leading Dubai property company. Moreover, Dubai based Damac Holding is one of the largest privately owned developers in the Middle East. It’s a luxury lifestyle provider which has announced the issuance of eight tenders in the month of August. The total worth of these projects is Dhs2bn. There is a complete list of projects for which the tenders are being issued which includes: Capital Bay, The Corner, Burjside Boulevard, Executive Bay, Park Central, Al Jawhara, Amber Residence and Lake Side. Apart from this, enabling tenders for Harbour Heights, Water’s Edge and Commercial Square have been issued.

The company has been criticized for non completion of some of the projects due to missing completion dates and deadlines. The General Manager of Operations of Damac Properties, Mr. Ziad El Chaar said: “The first half of the year we have made significant progress. We delivered over 2,300 units and we will continue to be aggressive on delivery. Continuing with the momentum of the year, in July we have issued 8 new tenders. In the next two years our aim is to have delivered a total of 25 towers totaling to 7,100 units.”

Damac properties have announced that earlier this year, three of the projects will get completed including The Crescent projects, Executive Heights and Lake View. Moreover, there is a notable progress going on various other projects. A floor is being built in every 5.2 days at the Ocean Heights tower in Dubai Marina which is now at the 71st floor. Floors are also being constructed at Park towers at DIFC. At Damac the years 2008 and 2009 have been busy years. A lot of hard work is involved by its team and other contractors involved within the projects thus, the year 2009 is heading towards the ‘Year of Delivery’.